When is it required?
Question:
A long time business client that owed me a large balance for unpaid fees sent a letter dropping me. He then wrote me a letter requesting me to send “his” papers to his new accountant. Can I insist on being paid first or do I have to send the papers? I made some notes on a worksheet adjusting his numbers that went on the tax return. Do I have to send this also and if so, do I have to write these up in proper journal entry form?
More from Ed Mendlowitz, The Practice Doctor: 11 Business-Getting Tips for the Young Staffer | How to Get Started in Family Office Services | Three and a Half Ways to Get Your Own CPA Practice | Novice Manager Needs to Know: How To Do It All? | Why No One Listens to You | When NOT to Offer a Free Initial Consultation | Measuring Growth in Yourself, Staff and Partners | What Do You Think You’re Doing? | Can You Teach Judgment? | Clients’ Calls At Home | What You Need to Know before Expanding into Business Valuation | Seven Ways to Increase Fees | 10 Best Practices for Tax Season | Nine Healthy Things To Do During Tax Season | 12 Reasons to Love Tax Season | FREE INSTANT DOWNLOAD: Sample fee schedule for 1040s | Also: “Implementing Fee Increases” and “The Tax Season Opportunity Guide.”
Answer: